COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the first step of the consumer decision making process?
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Information searching
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Alternative evaluation
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Need identification
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Purchase decision
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Explanation:
Detailed explanation-1: -1. Problem recognition. The first step of the consumer decision-making process is recognizing the need for a service or product.
Detailed explanation-2: -Consumer decision making process comprises five stages: need recognition, information search, evaluation of alternatives, purchase and post-purchase behaviour.
Detailed explanation-3: -Problem recognition is the first stage of the consumer decision process.
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